Bahl & Gaynor Inc. Purchases 246 Shares of Chemed Co. (CHE)
Bahl & Gaynor Inc. lifted its position in shares of Chemed Co. (NYSE:CHE) by 1.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,686 shares of the company’s stock after purchasing an additional 246 shares during the period. Bahl & Gaynor Inc.’s holdings in Chemed were worth $5,333,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHE. Laurion Capital Management LP acquired a new position in Chemed during the 2nd quarter worth about $492,000. Marshall Wace LLP acquired a new position in Chemed during the 2nd quarter worth about $1,433,000. First Trust Advisors LP lifted its holdings in Chemed by 370.3% during the 3rd quarter. First Trust Advisors LP now owns 81,596 shares of the company’s stock worth $26,076,000 after buying an additional 64,248 shares during the period. Boston Partners lifted its holdings in Chemed by 2.7% during the 2nd quarter. Boston Partners now owns 160,271 shares of the company’s stock worth $51,577,000 after buying an additional 4,186 shares during the period. Finally, US Bancorp DE lifted its holdings in Chemed by 2.3% during the 3rd quarter. US Bancorp DE now owns 16,755 shares of the company’s stock worth $5,355,000 after buying an additional 376 shares during the period. 90.15% of the stock is currently owned by institutional investors.
In other news, VP Michael D. Witzeman sold 1,706 shares of Chemed stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $322.00, for a total value of $549,332.00. Following the completion of the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $1,288,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Donald E. Saunders sold 300 shares of Chemed stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $308.74, for a total value of $92,622.00. Following the completion of the transaction, the director now directly owns 8,251 shares of the company’s stock, valued at $2,547,413.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,990 shares of company stock valued at $8,017,220. Corporate insiders own 4.82% of the company’s stock.
Chemed (NYSE:CHE) last posted its quarterly earnings data on Monday, October 29th. The company reported $3.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.27. Chemed had a return on equity of 35.13% and a net margin of 11.73%. The firm had revenue of $444.15 million during the quarter, compared to analyst estimates of $445.16 million. During the same period last year, the company posted $2.15 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Chemed Co. will post 11.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, November 8th. Chemed’s dividend payout ratio (DPR) is presently 22.39%.
CHE has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on Chemed to $321.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. Zacks Investment Research raised Chemed from a “hold” rating to a “buy” rating and set a $350.00 target price on the stock in a report on Tuesday, July 31st. ValuEngine downgraded Chemed from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Bank of America initiated coverage on Chemed in a report on Friday, October 12th. They set a “buy” rating and a $390.00 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $332.00.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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